Jurors on Tuesday heard radically different characterizations of the alleged roles of three former executives who are facing criminal fraud charges in the 2012 collapse of Dewey & LeBoeuf.
In the first day of what is expected to be a four- to six-month trial, prosecutors portrayed the three leaders—one-time firm chair Steven Davis, former executive director Stephen DiCarmine and ex-chief financial officer Joel Sanders—as “[directing] a fraudulent scheme” that painted a far healthier picture of the firm’s financial performance for its lenders and investors than the reality.
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